From Yahoo Finance: 2025-05-23 17:31:00

Tesla CEO Elon Musk supported a government cost-cutting move, stating the U.S. may be wasting $100 million yearly on inactive phone lines. An internal audit found 19% of phone lines at the U.S. Office of Personnel Management unused or duplicated. Cancelling these lines would save $100,000 annually. Musk reposted the update, highlighting the wastage. Additionally, only 2% of U.S. adults use landlines exclusively, impacting leading telecom providers. Verizon Communications Inc. dominates the landline market in the Northeast. This move could have implications for telecom companies serving residential and business customers.



Read more at Yahoo Finance: ‘Government Is Wasting About $100 Million Per Year On Unused Phone Lines’